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Bad Credit Loans

Insane (But True) Things About Bad Credit Loans

How crazy is this? You run a great business. The company has great margins. Your revenue is growing month over month. The growth of the company is looking very promising. In fact, it’s exploding!

There is only one thing. Your personal credit score sucks. Nothing personal. It’s not your fault. Your loan application is declined. Now that’s insane!


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Bad Credit

Did you know that more than 30 percent of small businesses in the U.S. are owned by women? If you are a woman who owns a small business, you are well aware of how much work goes into keeping   read more…

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Fact:
Business owners have lower credit scores than the average American. Why?

The demands on your finances are different. On average you have more cars, homes and credit cards. You max out your personal credit cards to pay for your business expenses. You take out home equity loans (when they existed) to buy business equipment. You remortgage your home to squeeze out more cash for payroll.

That’s insane!

This use of available credit results in an increased credit utilization. 30% of your FICO score is your utilization. The net effect is it lowers your FICO score. Your high utilization percentage decreases your chances of receiving additional credit. The bottom line is you’re stuck with a less than perfect credit score. It’s a classic “Catch-22.”Meanwhile, your business is busting out. Insane?

Do you want more insanity? Try this on for size.

Do you have a business credit card? Have you ever missed a payment? Did you assume that your business activity doesn’t impact your personal credit?  Think again! According to credit expert, John Ulzheimer, as the owner, you are responsible for the business credit card.

OK John, tell me something that I don’t know.

What I almost guarantee you didn’t know is that if you default on the business credit card, BINGO, you guessed it. They report it to your personal credit history.  Why the heck do I even have a business credit card if it reports to my personal credit.

That’s insane!


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How about another insane thing?

Not using your credit cards will hurt your score. Yeah, you heard that right. Don’t use a credit card for six months and the credit card issuer just might close the account, which hurts your credit score. INSANE!

In a recent Wall Street Journal article they cite a 2013 Federal Trade Commission Study mandated by Congress. A whopping one if five, that’s 20% of consumers, had at least one error in one of the three credit bureau reports. These errors are enough to get your loan application declined. Need I say more?

HELP ME! Are There Business Loans for Bad Credit? YES!

Bad credit business loans from Sunwise Capital means being offered a business loan with highly competitive rates and terms. Our unique and proprietary underwriting enables us to look at the health of your business. That means we focus more on your cash flow and not just your FICO score.

Unsecured Business Loans Bad Credit

Business owners, have you ever applied for a bank loan? Then you already know how frustrating it can be. Your company not only needs to be strong financially but as the owner, you typically need to have great credit too. If bad credit is keeping you from getting the cash that you need to expand your business, to buy new equipment or for any other purpose, it’s time to turn to the experts at Sunwise Capital. Our unsecured term loans are second to none. In fact, we guarantee it.

Our Bad Credit Loans vs. The Banks

Sunwise Capital offers all kinds of business loans. Banks and other more traditional financial institutions do not like bad credit loans.

Why?

Because the banks just don’t like any small business loan.
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Most banks will only offer a business loan if you have a personal credit score of 720 or better. Plus, they require personal guarantees with you posting collateral or assets.

Getting the best business loans, especially a business loan with bad credit just means finding a top small business lender like Sunwise Capital. As one of the premier business loan lenders we pride ourselves on being straight forward and transparent. We keep you involved the whole process. We openly discuss rates and terms.

Don’t Let Bad Credit Sink Your Business

In a perfect world, we’d all have excellent credit. In real life, though, things happen. Unfortunately, banks and traditional lenders don’t tend to be very understanding about that. Don’t let your company go out of business because you’re short on cash. Even if you have bad credit, Sunwise Capital can help.
At Sunwise Capital we are willing to view you as more than your credit score. So, if you have poor credit score and feel intimidated about applying for bad credit business loans don’t worry. We will talk to you respectfully and tell you the ins and outs if you don’t know how to get a business loan with bad credit.

You will be pleasantly surprised how easy we make it.

  • Bankruptcy discharged at least one year
  • No open bankruptcies
  • At least two years in business and $200K annual revenue
  • No assets or collateral needed
  • No traditional personal guarantees
  • Loans up to $250,000

One of the advantages of developing a long-term relationship with Sunwise Capital is that we do not report to the personal credit bureaus, but we do report to the business credit bureaus.

Our objective is to work with you so that over time you can become bankable and get banks to give you a bank business loan.

Convenient Bad Credit Business Loans

Sunwise Capital provides business loans of $10,000 to $2 million to small businesses in all 50 states. We’ve designed a streamlined process that lets you get the cash that you need quickly–regardless of your credit standing.

Considering that 77 % of our clients borrow again from us two to three times per year, it’s safe to say that we’re doing a lot right!

Bad Credit Business Loans for Any Purpose

Banks and big lenders make you jump through all kinds of hoops to get a loan. Often, you must have what they deem to be an excellent reason to need the cash to qualify for a business loan.

You don’t have to worry about that stumbling block with us because with our business loans; you can use the cash for anything.

Competitive Rates and Fast Funding

When you have bad credit, it’s easy to feel like a second-class citizen. At Sunwise Capital, our focus is helping small business owners achieve unparalleled success. Not only that, but we provide customized loans with competitive terms and rates to businesses regardless of credit. After all, just because your credit isn’t picture perfect doesn’t mean that you don’t deserve exceptional service.

No Cost and No Obligation

Our process is so fast and easy; you can find out which business loans you qualify for in no time.

There is no application fee, and you are not obligated to take any loan. Best of all, our bad credit business loans and other loans are backed up by a $500 guarantee. We’ll either beat another lender’s rate or give you $500 – you truly have nothing to lose (See here for details).

Apply for a Bad Credit Business Loan Now

Unlike when applying for traditional business loans, you need minimal advance preparation when applying for a business loan from Sunwise Capital.

Everything is handled right through our website and online. If you apply today, you could be approved by tomorrow and funded by the following business day.

Don’t wait–request a business loan from Sunwise Capital today!

In the meantime, we will make sure we provide you with excellent rates and terms. Like the vast majority of our clients who borrow from us several times a year and sometimes for several years in a row, we expect you will too.

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APPLY NOW OR CALL 888.456.9223

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